Circulating Fluidized Bed (CFB) Boilers Market: Applications, Types, Growth, Trends and Forecasts 2018 to 2023
CFB boilers operate at relatively lower temperatures as compared to conventional boilers, reducing the gas emission levels considerably. Low emission of gases such as carbon dioxide, sulfur dioxide and nitrogen dioxide make CFB boilers environmentally friendly which is a key driver for the market growth. Additionally, flexibility in use of fuels reduces the burden on depleting reserves of coal, as CFB encourages the use of other fuels. The CFB boilers also reduce the operational cost of boilers and power plants, which is another driving factor for the market.
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Global CFB Boilers market by product
The CFB boilers product market is segmented as subcritical CFB boilers, supercritical CFB boilers and ultra supercritical CFB boilers. It is expected that supercritical and ultra supercritical boilers would have a higher market share than subcritical boilers. Supercritical and ultra supercritical boilers are used in high to very high megawatt plants; therefore, the CFB boilers used in these plants use highly advanced technologies to provide fuel efficiency and reduce gas emission.
Global CFB Boilers market by application
The application market is segmented into oil and gas industry, chemical industry, general industry and others (paper and pulp production, beverage). The oil and gas industry is using CFB boilers on a larger scale in their routine operations as compared to other industry verticals; therefore, it would have the highest revenue in the market. The chemical industry is expected to increase the use of CFB boilers due to operational efficiency and reduced gas emission. Therefore, it is projected that the chemical industry would have the highest growth rate in the market.
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Global CFB Boilers market by geography
The geographic market is segmented as North America, Europe, Asia-Pacific and Rest of the World (RoW). The North American market is the most mature market for CFB boilers as companies in this region adopted the CFB technology much earlier due to stringent gas emission laws and control operational cost. The Asia-Pacific region has the highest demand for energy, as most countries in this region are developing countries and industrial energy needs are very high. Therefore, it is expected that the CFB boilers market would have the highest demand in this region.
Product launches is the key strategy adopted by most companies in the market to increase market share. Some of the key companies profiled in this report are Alfa Laval Aalborg A/S, Alstom, AE&E Nanjing Boiler Co. Ltd., BHEL, Formosa Heavy Industries Corp., Foster Wheeler, DongFang Boiler, Mitsubishi Heavy Industries Ltd., Shanghai Boiler Works Co. Ltd, Thermax and Harbin Boiler Co. Ltd.
High level analysis
The report analyses the potency of suppliers and buyers along with threat of new entrants and substitute products, based on the Porter’s five force analysis. This report also analyses the impact of top ten factors of the market in the short and medium term. The key investment pockets are analyzed based on the growth estimations of each segment. The key strategies adopted by the companies are analyzed in detail to give implications of the competitive scenario.
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